Funds & Trusts

strategy

In November 2011, Unitholders voted in favour of extending the term of the Trust by four years to December 2015.

Following the extension of the Trust term, in December 2011 the Trust entered into a new $14.5m finance facility with its financier, Bankwest. The new facility provides for additional funding for ongoing capital expenditure and tenant incentives.

In the short term, the following strategies have been identified:

1. Improving tenancy mix – due to the tenancy layout, there may be opportunities to strengthen the mix of specialty tenants within the Centre with a view to continuing to improve pedestrian traffic flow and Centre sales. 
2. Property management review – the Responsible Entity continues to actively manage the asset. Ongoing review of the current investment market and operational aspects of the Centre including tenancy agreements may give rise to extra property income in the form of turnover rent from tenants including Woolworths with a view to maximising capital value and Unitholder returns. 
3. Effective capital management – FY2012 distributions are forecast to increase 167% over FY2011 to 8.0cpu per annum paid monthly. Following the extension of the Trust’s term, and subsequent new finance facility, 360 Capital anticipates that Trust earnings are likely to support the increased forecast subject to the Centre retaining full occupancy.